Global capacity from small modular reactors is forecast to increase by roughly sixfold between 2025 and 2030, according to new analysis from GlobalData.
The findings project that SMR capacity could increase by more than a hundredfold by 2040 relative to 2025 levels. Growth is being driven by surging demand for zero-carbon firm power, industrial clean technology applications and a growing policy emphasis on energy security.
Different regions are pursuing distinct SMR technologies based on their energy needs and regulatory environments.
China is advancing light-water SMRs, high-temperature gas reactors and molten-salt prototypes, while South Korea is focusing on integral pressurised water reactors and desalination-capable designs.
The UK, Canada and Central and Eastern European nations are ramping up regulatory and procurement efforts but continue to face cost and timing pressures.
China and Russia are currently among the leading countries in SMR deployment, benefiting from strong industrial capacity and established supplier ecosystems.
The United States shows growing pipeline strength backed by regulatory reform and public funding, but deployment remains constrained by first-of-a-kind project risk and supply chain readiness.
A significant driver of demand is the need for reliable, low-carbon electricity for data centres, with major technology companies increasingly partnering with SMR developers.
Despite the strong growth outlook, more than 90% of proposed SMR capacity globally remains in the announced or early permitting phases. Very few projects have reached full construction or commercial operation.
The report warns that the success of early movers will be critical to proving deployment timelines and cost containment before SMRs can scale into material contributors to energy grids by the mid-2030s.
Attaurrahman Ojindaram Saibasan, Power Analyst at GlobalData, said: “Securing financing for first-of-a-kind SMRs requires risk sharing through public investment, guarantees, contracts for difference, regulated asset base models or capacity payments. Early successes or failures will have outsized effects on the broader investment environment.”
Regulatory harmonisation, supply chain readiness and public acceptance, remain the key challenges standing between today’s pipeline ambitions and large-scale deployment.
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